Fixed Income

iShares Global Government Bond Index Fund (LU)

  • NAV as of 02/Jun/2023 USD 89.02
    52 WK: 81.83 - 93.28
  • 1 Day NAV Change as of 02/Jun/2023 -0.21 (-0.24%)
  • Morningstar Rating

Overview

Investment Approach


The Fund aims to achieve a return on your investment, through a combination of capital growth and income on the Fund’s assets, which reflects the return of the FTSE World Government Bond Index, the Fund’s benchmark index.

The Fund is passively managed and aims to invest as far as possible and practicable in the fixed income (FI) securities (such as bonds) that make up the Index and comply with its credit rating requirements. If the credit ratings of the FI securities are downgraded, the Fund may continue to hold them until they cease to form part of the Index and it is practicable to sell them.

The benchmark index measures the performance of bonds issued by governments globally, including government agencies, and supranationals (e.g. the International Bank for Reconstruction and Development). The bonds will, at the time of inclusion in the benchmark index, be investment grade (i.e. meet a specified level of creditworthiness).

Important Information: Capital at Risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.

The fund invests a large portion of assets which are denominated in other currencies; hence changes in the relevant exchange rate will affect the value of the investment. The fund invests in fixed interest securities such as corporate or government bonds which pay a fixed or variable rate of interest (also known as the ‘coupon’) and behave similarly to a loan. These securities are therefore exposed to changes in interest rates which will affect the value of any securities held. Certain developing countries are especially large debtors to commercial banks and foreign governments. Investment in debt obligations (sovereign debt) issued or guaranteed by developing governments or their agencies involve a high degree of risk.

All currency hedged share classes of this fund use derivatives to hedge currency risk. The use of derivatives for a share class could pose a potential risk of contagion (also known as spill-over) to other share classes in the fund. The fund’s management company will ensure appropriate procedures are in place to minimise contagion risk to other share class. Using the drop down box directly below the name of the fund, you can view a list of all share classes in the fund – currency hedged share classes are indicated by the word “Hedged” in the name of the share class. In addition, a full list of all currency hedged share classes is available on request from the fund’s management company

To the extent the Fund undertakes securities lending to reduce costs, the Fund will receive 62.5% of the associated revenue generated and the remaining 37.5% will be received by BlackRock as the securities lending agent. As securities lending revenue sharing does not increase the costs of running the Fund, this has been excluded from the ongoing charges.

Show Less
Loading

Performance

Performance

Chart

Performance chart data not available for display.
View full chart
Source: For UK-domiciled funds (such as the BlackRock Retail Authorised Unit Trusts and BlackRock Collective Investment Funds 'BCIF'), performance is shown on a bid to bid price basis, with net income reinvested, in the currency indicated on the chart. Performance is shown net of fees. For Luxembourg-domiciled funds (such as BlackRock Global Funds 'BGF' and BlackRock Strategic Funds 'BSF'), performance is shown on a net asset value basis, with gross income reinvested, in the currency indicated in the chart. Performance is shown net of fees. Past performance is not a guide to future performance.

This chart shows the fund's performance as the percentage loss or gain per year over the last 10 years.

  2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Total Return (%) -4.4 -0.1 -3.9 1.4 7.3 -0.8 5.9 10.2 -7.2 -18.0
Benchmark (%) -4.0 -0.5 -3.6 1.6 7.5 -0.8 5.9 10.1 -7.0 -18.3

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

  From
31-Mar-2018
To
31-Mar-2019		 From
31-Mar-2019
To
31-Mar-2020		 From
31-Mar-2020
To
31-Mar-2021		 From
31-Mar-2021
To
31-Mar-2022		 From
31-Mar-2022
To
31-Mar-2023
Total Return (%)

as of 31/Mar/2023

-1.63 6.29 1.68 -8.01 -9.41
Benchmark (%)

as of 31/Mar/2023

-1.57 6.17 1.82 -7.74 -9.55
  1y 3y 5y 10y Incept.
Total Return (%) -4.03 -5.58 -1.98 -0.74 -0.97
Benchmark (%) -3.51 -5.53 -1.90 -0.66 -0.88
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 3.37 0.14 0.41 7.98 -4.03 -15.83 -9.50 -7.12 -9.70
Benchmark (%) 3.93 0.41 0.72 8.47 -3.51 -15.69 -9.14 -6.44 -8.87

The figures shown relate to past performance. Past performance is not a reliable indicator of future performance. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past

Share Class and Benchmark performance displayed in USD hedged Share Class Benchmark performance is displayed in USD.

Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested where applicable. The return of your investment may increase or decrease as a result of currency fluctuations if your investment is made in a currency other than that used in the past performance calculation. Source: Blackrock

Key Facts

Key Facts

Net Assets of Fund as of 02/Jun/2023 USD 609,645,201
Share Class launch date 23/Oct/2012
Fund Launch Date 23/Oct/2012
Share Class Currency USD
Fund Base Currency USD
Asset Class Fixed Income
Benchmark Index FTSE World Government Bond Index
Index Ticker -
SFDR Classification Other
Initial Charge 0.00%
Ongoing Charges Figures 0.04%
Annual Management Fee 0.00%
Performance Fee 0.00%
Minimum Initial Investment USD 10,000,000.00
Minimum Subsequent Investment USD 1,000.00
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Global Bond
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGIGGX2
ISIN LU0826459850
SEDOL B7Y4FV2

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 28/Apr/2023 1041
Standard Deviation (3y) as of 30/Apr/2023 8.19%
3y Beta as of 30/Apr/2023 0.980
Yield to Maturity as of 28/Apr/2023 3.14
Modified Duration as of 28/Apr/2023 7.51
Weighted Average YTM as of 28/Apr/2023 3.14%
Effective Duration as of 28/Apr/2023 7.54
Weighted Avg Maturity as of 28/Apr/2023 9.24
WAL to Worst as of 28/Apr/2023 9.24

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics. Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. They are provided for transparency and for information purposes only. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund.


The metrics are not indicative of how or whether ESG factors will be integrated into a fund. Unless otherwise stated in fund documentation and included within a fund’s investment objective, the metrics do not change a fund’s investment objective or constrain the fund’s investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC) as of 19/May/2023 A
MSCI ESG % Coverage as of 19/May/2023 100.00
MSCI ESG Quality Score (0-10) as of 19/May/2023 5.92
MSCI ESG Quality Score - Peer Percentile as of 19/May/2023 37.08
Fund Lipper Global Classification as of 19/May/2023 Bond Global USD
Funds in Peer Group as of 19/May/2023 418
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of - -
MSCI Weighted Average Carbon Intensity % Coverage as of 19/May/2023 0.00
All data is from MSCI ESG Fund Ratings as of 19/May/2023, based on holdings as of 31/Jan/2023. As such, the fund’s sustainable characteristics may differ from MSCI ESG Fund Ratings from time to time.

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities.

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Morningstar Rating

3 stars
Overall Morningstar Rating for iShares Global Government Bond Index Fund (LU), Class X2, as of 31/May/2023 rated against 923 Global Bond Funds.

Holdings

Holdings

as of 28/Apr/2023
Name Weight (%)
CHINA PEOPLES REPUBLIC OF (GOVERNM 1.99 04/09/2025 0.79
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.69 08/12/2026 0.69
TREASURY NOTE 4.5 11/30/2024 0.56
TREASURY NOTE 2.875 05/15/2028 0.52
TREASURY NOTE 1.875 02/28/2027 0.49
Name Weight (%)
TREASURY NOTE 3.25 08/31/2024 0.47
TREASURY NOTE 4.125 11/15/2032 0.44
TREASURY NOTE 1.375 12/31/2028 0.44
TREASURY NOTE 1.25 11/30/2026 0.43
TREASURY NOTE 3.5 02/15/2033 0.43
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 28/Apr/2023

% of Market Value

Type Fund Benchmark Net
as of 28/Apr/2023

% of Market Value

Type Fund Benchmark Net
as of 28/Apr/2023

% of Market Value

Type Fund Benchmark Net
as of 28/Apr/2023

% of Market Value

Type Fund Benchmark Net
as of 28/Apr/2023

% of Market Value

Type Fund Benchmark Net
Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management. Allocations are subject to change.

Pricing & Exchange

Pricing & Exchange

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
Class X2 USD None 89.02 -0.21 -0.24 02/Jun/2023 93.28 81.83 LU0826459850 -
Class A2 USD None 84.59 -0.20 -0.24 02/Jun/2023 89.00 77.99 LU0836513852 -
Class D2 EUR None 108.88 -0.36 -0.33 02/Jun/2023 120.29 107.24 LU0875157884 -
Class N7 EUR Semi-Annual 93.20 -0.31 -0.33 02/Jun/2023 104.10 91.90 LU0852473874 -
Class N2 USD None 87.75 -0.20 -0.23 02/Jun/2023 92.07 80.74 LU0839971503 -
Class F2 USD None 87.36 -0.21 -0.24 02/Jun/2023 91.69 80.40 LU0836517176 -
Class N2 EUR None 80.52 -0.27 -0.33 02/Jun/2023 89.43 79.46 LU0965779233 -
Class D2 USD - 88.76 -0.21 -0.24 02/Jun/2023 93.16 81.69 LU1811364139 -

Portfolio Managers

Portfolio Managers

Ersan Hacioglu
Ersan Hacioglu
Francis Rayner
Francis Rayner
PortSols RATES LON GFI-EU Group
PortSols RATES LON GFI-EU Group

Literature

Literature